Categories: Market Research

Fruit And Vegetable Ingredients Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The fruit and vegetable ingredients are obtained from the various fruits and vegetables to be further utilize in different food and beverage applications. It is used to produce food products such as soft drinks, alcoholic beverages, dairy products, snacks, and others. It is a specially designed element for food items that ensures the best quality and stability in terms of color, flavor, texture, and nutritional value.

Sizing and Forecast
The fruit and vegetable ingredients market size has grown strongly in recent years. It will grow from $221.27 billion in 2023 to $234.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to health awareness, clean label movement, flavor and taste enhancement, rise in vegetarian and vegan diets, shifting consumer preferences..

The fruit and vegetable ingredients market size is expected to see strong growth in the next few years. It will grow to $304.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising demand for natural food additives, innovative product development, convenience and ready-to-eat solutions, expansion in global markets, changing consumer dietary patterns.. Major trends in the forecast period include global culinary fusion, sustainable sourcing and production, convenience and snacking trends, functional foods and ingredients, plant-based and vegan diets..

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Segmentation & Regional Insights
The fruit and vegetable ingredients market covered in this report is segmented –

1) By Type: Concentrates, NFC Juices, Pastes And Purees, Pieces And Powders
2) By Nature: Organic, Conventional
3) By Category: Fruits, Vegetables
4) By Application: Bakery Products, Confectionery Products, Dairy Products, RTE Products, Soups And Sauces, Beverages, Other Applications

North America was the largest region in the fruit and vegetable ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fruit and vegetable ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increase in demand for plant-based foods is expected to propel the fruit and vegetable ingredients market. Plant-based foods are primarily made of whole or minimally processed plant parts, such as grains, nuts, seeds, and other whole or unprocessed foods such as fruits and vegetables. Consumer behavior has changed significantly due to the COVID-19 epidemic toward more wholesome foods to increase immunity, which aids in battling the virus. Consuming these fruit and vegetable ingredients, which offer various nutritional advantages, could help consumers attain their increased focus on overall wellness. The increasing awareness of being vegan among consumers is growing as consumers depend on plant-based foods or processed vegan foods that have fruit and vegetable ingredients with rich nutritional values. For Instance, In January 2022, according to the Good Food Institute, a US-based non-profit organization, retail sales of plant-based substitutes increased twice in the US in 2020. Additionally, sales of plant-based meat substitutes increased by 45%. Furthermore, according to Grubhub, a US-based food delivery firm, orders for vegan meal delivery increased by 17% in June 2021 compared to June 2020. The orders for plant-based burgers increased by 28%, while orders for vegetarian cuisine increased by 55%. Therefore, the demand for plant-based foods will drive the fruit and vegetable ingredients market.

Key Industry Players
Major companies operating in the fruit and vegetable ingredients market report are AGRANA Beteiligungs-AG, Archer Daniels Midland Company, Tate & Lyle plc, Olam International Limited, Ingredion Incorporated, Cargill Incorporated, Döhler GmbH, Sensient Technologies Corporation, SunOpta Inc., Diana Food SAS, SVZ Industrial Fruit & Vegetable Ingredients Inc., Kanegrade Ltd., FruitSmart Inc., Milne Fruit Products Inc., Tree Top Inc., Welch Foods Inc., Frutarom Industries Ltd., Givaudan SA, Symrise AG, Firmenich SA, International Flavors & Fragrances Inc., Takasago International Corporation, Mane SA, Kerry Group plc, Taura Natural Ingredients, Paradise Fruits Solutions GmbH, Van Drunen Farms, Kiril Mischeff Ltd.

The fruit and vegetable ingredients market report table of contents includes:

1. Executive Summary

2. Fruit And Vegetable Ingredients Market Characteristics

3. Fruit And Vegetable Ingredients Market Trends And Strategies

4. Fruit And Vegetable Ingredients Market – Macro Economic Scenario

5. Global Fruit And Vegetable Ingredients Market Size and Growth

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31. Global Fruit And Vegetable Ingredients Market Competitive Benchmarking

32. Global Fruit And Vegetable Ingredients Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Fruit And Vegetable Ingredients Market

34. Fruit And Vegetable Ingredients Market Future Outlook and Potential Analysis

35. Appendix